“Build my wealth.” It’s an admirable goal, and it’s something more and more Millennials are signing up for.
Yes, the younger generation is arguably keener on the environment and social responsibility than they are on making loads of money. But the number of investment-minded Millennials is nonetheless on the rise.
Part of this growth may be attributed to how many of us digest our information on social media, blogs and podcasts while we’re working out or driving – and the pool of excellent modern resources is getting better all the time.
Here are some of our favourites:
While many younger Australians are understandably depressed about housing affordability and the cost of living, others are fighting fire with FIRE. It stands for ‘Financial Independence, Retire Early’ and basically means that if you scrimp and save today, you can invest smartly and give up work sooner rather than later.
Aussie Firebug is written by a 20-something who goes by the name of Matt, and he does an awesome blog and podcast that outlines his journey from a 9 to 5 to true independence through investing from a young age in super, stocks and real estate.
For a seriously successful FIRE story, look no further than this Canadian blogger. Originally a software engineer, he gave it all up at the age of 30 to retire a wealthy man. He did it by committing a small percentage of his salary to really smart investments, and cutting down his costs of living even more by racing away from what he calls the “exploding volcano of wastefulness” of the current generations.
His blog is now well known, and his community of “Moustachians” is large and growing as they share tips about how to build wealth, be happy, care about the environment, and retire super-early.
If ‘FIRE’ success stories do it for you, Strong Money Australia is another great blog, whose founder recently retired… at the age of 28! Unlike Mr. Money Moustache, the focus of the guidelines, tips and strategies is Australian, so do check it out.
Like Strong Money Australia, Pat the Shuffler is yet another great Aussie blogger who got a big boost with some tasty mainstream media coverage. He’s just an ordinary bloke who wants to help other ordinary Australians just like himself to buck the notion that you have to spend your entire life glued to a job.
Financial Samurai’s motto is ‘Slicing through money’s mysteries’, and it really does do that. It’s a veritable treasure trove of amazing and helpful articles, written by yet another of the growing list of anonymous ‘FIRE’ bloggers.
Financial Samurai had a decent education and income, and even saved and invested ‘aggressively’ – and yet still felt like retirement would forever be elusive. But as the store of articles grew, 30 million readers stopped by to read, share, learn and contribute to areas of investing and money philosophy – and there’s even a section where financial products are honestly reviewed.
For the curious millennial investor looking for a really great podcast to listen to at the gym or on the train, you can’t go past the Mad Fientist.
His first guest six years ago was none other than Mr. Money Moustache, attesting to the quality of this great podcast. He calls it the Financial Independence Podcast, and although new episodes are only added now and then, they’re always the most in-depth and genuinely useful hours with guests who really do know the mindset, benefits and strategies required for true financial independence.
The Mad Fientist is amazing, but Choose FI – hosted by Jonathan and Brad – could be our favourite podcast of all.
Each and every Monday, a specific topic is selected and they really dive all the way in with the sort of useful and actionable advice that puts the power of financial freedom in your hands. The guests are always the most respected investment, personal finance and entrepreneurial minds, podcasters and bloggers, making it the perfect way to start the week of commuting.
It’s not sexy, it’s not trendy, but ASIC’s MoneySmart is a treasure trove of great financial advice, tips and calculators. Need to figure out exactly how much you’ll need in Superannuation to reach that magic retirement goal? Looking for impartial advice on how to buy a home? Need free legal advice to manage your debts? ASIC’s site has all of that and much more. Bookmark this site and visit repeatedly – if you’re in any way serious about getting serious about your money, this is an invaluable resource.
No book, blog or podcast will contain the golden goose-style single nugget of information that is the ticket to financial independence. But with some seriously smart reading and listening, we think you’ll be further ahead to reaching your financial goals.
At Clover, we want to remind everyone that we’re all saving for something; a first home, a holiday, your child’s education. Why not add add true financial independence and early retirement to that list? Like our favourite blogs and podcasts above, we want to empower young Australians to reach their financial goals faster. If you’re not sure where to start, check our free Investing 101 guide.
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